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Capital A benefits from tighter economy: CEO Tony Fernandes

apart from soaring crude oil prices When currency depreciationTony Fernandes, CEO of AirAsia’s parent company Capital A, said the outlook for the aviation industry remained positive as demand was “very strong”.

“For the first time in a long time, even before Covid, we are considering adding 20 more aircraft to our fleet,” he told CNBC’s “Squawk Box Asia” on Friday.

But the “problem” is getting the Air Group’s fleet back from maintenance, Fernandez added.

“AirAsia has 205 aircraft and AirAsia X has around 20. Getting slots and getting them ready for service has been a big challenge.”

Positive outlook comes despite negative market reaction Fernandez’s resignation As Group CEO of AirAsia X this week. AirAsia X is AirAsia’s long-haul budget flight division.

AirAsia X The stock has fallen since the Oct. 31 announcement, with losses since development still hovering around 5% as of Friday morning.

“Unfortunately, whatever I do is out of proportion. I went there. [AirAsia X] For a short time … I just went there and kickstarted an airline that had been heavily restructured and hibernating,” Fernandez said.

Unleash the “true value” of Capital A

AirAsia X has reached PN17 status in October 2021. Bursa Malaysia For companies in financial difficulty. These companies may be delisted if their financial situation does not improve.

“I think we are getting out of PN17. rice field.”

Fernandez said he contributed to the launch of the cargo business at AirAsia X during his four-month tenure.Approximately 20% of airline revenue during the pandemic” and will continue to play an important role in its recovery.

He added that AirAsia X now has a “very solid foundation” and a better cost structure.

Capital A CEO Tony Fernandes on Southeast Asia's Super App Ambitions

Fernandez told CNBC that his focus is now on bigger things. Capital A group and “unleash its true value”.

He added that the newly formed holding company would be set up “soon” to include all aviation services, including engineering firm Asia Digital Engineering, restaurant brand Santan, and its consulting arm.

“My job right now is to be profitable, good cash flow growth, ensure adequate funding for all of this, and from where we were… the sky looks really good.

E-commerce presents a ‘huge opportunity’

Even if economy tightensFernandez said he was “not worried” as Capital A would benefit as a “value provider.”

“I have experienced economic slowdowns many times and people will go to the most valuable operators,” he added.

How the pandemic changed the way Boeing and airlines think about air cargo

Furthermore, the pandemic e-commerce boomFernandez said it stays here.

“but logistics, is a wonderful time for us to grow. For the first time in history he used three cargo planes. ”

“Even shipping from Kuala Lumpur to Singapore still takes time. [At] AirAsia, now you can do it in one day. So we believe that doing point-to-point logistics and changing the whole model presents a huge opportunity. ”

https://www.cnbc.com/2022/11/04/capital-a-to-benefit-from-tightened-economy-ceo-tony-fernandes.html Capital A benefits from tighter economy: CEO Tony Fernandes

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